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AMERICAN PUBLIC EDUCATION INC（APEI）与Graham Holdings Co（GHC）财务数据对比。点击上方公司名可切换其他公司
Graham Holdings Co的季度营收约是AMERICAN PUBLIC EDUCATION INC的7.9倍（$1.3B vs $158.3M）。Graham Holdings Co净利率更高（8.7% vs 8.0%，领先0.7%）。Graham Holdings Co同比增速更快（0.4% vs -3.5%）。Graham Holdings Co自由现金流更多（$5.0M vs $-15.6M）。过去两年Graham Holdings Co的营收复合增速更高（4.2% vs 1.3%）
美国公共教育公司（股票代码APEI）旗下控股教育服务企业Strategic Education Inc，运营着卡佩拉大学、斯特雷耶大学两所营利性在线大学，还拥有DevMountain、Hackbright Academy、Sophia Learning等非学历教育项目，主营面向在职人群的成人教育服务。
Graham Holdings是一家总部位于美国弗吉尼亚州阿灵顿县、在特拉华州注册的多元化综合控股集团，曾持有知名媒体《华盛顿邮报》与《新闻周刊》的所有权，旗下业务覆盖多个领域，在北美市场拥有深厚的行业运营积淀。
APEI vs GHC — 直观对比
营收规模更大
GHC
是对方的7.9倍
$158.3M
营收增速更快
GHC
高出3.9%
-3.5%
净利率更高
GHC
高出0.7%
8.0%
自由现金流更多
GHC
多$20.6M
$-15.6M
两年增速更快
GHC
近两年复合增速
1.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $158.3M | $1.3B |
| 净利润 | $12.6M | $108.7M |
| 毛利率 | 56.4% | — |
| 营业利润率 | 12.0% | 3.8% |
| 净利率 | 8.0% | 8.7% |
| 营收同比 | -3.5% | 0.4% |
| 净利润同比 | -2.7% | -80.2% |
| 每股收益（稀释后） | $0.67 | $24.76 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收APEIGHC
| Q4 25 | $158.3M | $1.3B | ||
| Q3 25 | $163.2M | $1.3B | ||
| Q2 25 | $162.8M | $1.2B | ||
| Q1 25 | $164.6M | $1.2B | ||
| Q4 24 | $164.1M | $1.2B | ||
| Q3 24 | $153.1M | $1.2B | ||
| Q2 24 | $152.9M | $1.2B | ||
| Q1 24 | $154.4M | $1.2B |
净利润APEIGHC
| Q4 25 | $12.6M | $108.7M | ||
| Q3 25 | $5.6M | $122.9M | ||
| Q2 25 | $4.5M | $36.7M | ||
| Q1 25 | $8.9M | $23.9M | ||
| Q4 24 | $13.0M | $548.8M | ||
| Q3 24 | $2.3M | $72.5M | ||
| Q2 24 | $371.0K | $-21.0M | ||
| Q1 24 | $516.0K | $124.4M |
毛利率APEIGHC
| Q4 25 | 56.4% | — | ||
| Q3 25 | 54.2% | — | ||
| Q2 25 | 51.8% | — | ||
| Q1 25 | 54.5% | — | ||
| Q4 24 | 56.3% | — | ||
| Q3 24 | 50.8% | — | ||
| Q2 24 | 50.2% | — | ||
| Q1 24 | 53.1% | — |
营业利润率APEIGHC
| Q4 25 | 12.0% | 3.8% | ||
| Q3 25 | 5.9% | 5.2% | ||
| Q2 25 | 4.3% | 6.0% | ||
| Q1 25 | 7.4% | 4.1% | ||
| Q4 24 | 13.1% | 5.8% | ||
| Q3 24 | 2.7% | 6.8% | ||
| Q2 24 | 1.5% | 2.2% | ||
| Q1 24 | 3.4% | 3.1% |
净利率APEIGHC
| Q4 25 | 8.0% | 8.7% | ||
| Q3 25 | 3.4% | 9.6% | ||
| Q2 25 | 2.8% | 3.0% | ||
| Q1 25 | 5.4% | 2.0% | ||
| Q4 24 | 7.9% | 44.1% | ||
| Q3 24 | 1.5% | 6.0% | ||
| Q2 24 | 0.2% | -1.8% | ||
| Q1 24 | 0.3% | 10.8% |
每股收益（稀释后）APEIGHC
| Q4 25 | $0.67 | $24.76 | ||
| Q3 25 | $0.30 | $27.91 | ||
| Q2 25 | $-0.02 | $8.35 | ||
| Q1 25 | $0.41 | $5.45 | ||
| Q4 24 | $0.63 | $124.05 | ||
| Q3 24 | $0.04 | $16.42 | ||
| Q2 24 | $-0.06 | $-4.79 | ||
| Q1 24 | $-0.06 | $27.72 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $174.1M | $267.0M |
| 总债务越低越好 | $94.7M | — |
| 股东权益账面价值 | $294.8M | $4.8B |
| 总资产 | $521.4M | $8.4B |
| 负债/权益比越低杠杆越低 | 0.32× | — |
8季度趋势，按日历期对齐
现金及短期投资APEIGHC
| Q4 25 | $174.1M | $267.0M | ||
| Q3 25 | $191.3M | $190.8M | ||
| Q2 25 | $174.9M | $176.2M | ||
| Q1 25 | $161.6M | $156.7M | ||
| Q4 24 | $131.9M | $260.9M | ||
| Q3 24 | $135.4M | $244.4M | ||
| Q2 24 | $129.8M | $140.7M | ||
| Q1 24 | $125.3M | $130.9M |
总债务APEIGHC
| Q4 25 | $94.7M | — | ||
| Q3 25 | $94.4M | — | ||
| Q2 25 | $94.1M | — | ||
| Q1 25 | $93.7M | — | ||
| Q4 24 | $93.4M | — | ||
| Q3 24 | $93.1M | — | ||
| Q2 24 | $92.8M | — | ||
| Q1 24 | $95.0M | — |
股东权益APEIGHC
| Q4 25 | $294.8M | $4.8B | ||
| Q3 25 | $279.3M | $4.5B | ||
| Q2 25 | $272.2M | $4.4B | ||
| Q1 25 | $310.0M | $4.3B | ||
| Q4 24 | $303.9M | $4.3B | ||
| Q3 24 | $290.4M | $4.0B | ||
| Q2 24 | $288.7M | $4.0B | ||
| Q1 24 | $288.5M | $4.0B |
总资产APEIGHC
| Q4 25 | $521.4M | $8.4B | ||
| Q3 25 | $525.3M | $7.9B | ||
| Q2 25 | $537.4M | $7.6B | ||
| Q1 25 | $578.7M | $7.6B | ||
| Q4 24 | $570.1M | $7.7B | ||
| Q3 24 | $569.6M | $7.4B | ||
| Q2 24 | $560.7M | $7.2B | ||
| Q1 24 | $559.0M | $7.3B |
负债/权益比APEIGHC
| Q4 25 | 0.32× | — | ||
| Q3 25 | 0.34× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.32× | — | ||
| Q1 24 | 0.33× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-11.6M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $-15.6M | $5.0M |
| 自由现金流率自由现金流/营收 | -9.9% | 0.4% |
| 资本支出强度资本支出/营收 | 2.6% | 1.9% |
| 现金转化率经营现金流/净利润 | -0.92× | 0.26× |
| 过去12个月自由现金流最近4个季度 | $46.1M | $275.3M |
8季度趋势，按日历期对齐
经营现金流APEIGHC
| Q4 25 | $-11.6M | $28.3M | ||
| Q3 25 | $21.7M | $178.1M | ||
| Q2 25 | $14.8M | $94.8M | ||
| Q1 25 | $37.0M | $46.0M | ||
| Q4 24 | $1.6M | $116.3M | ||
| Q3 24 | $14.1M | $237.6M | ||
| Q2 24 | $12.5M | $52.0M | ||
| Q1 24 | $20.7M | $1.1M |
自由现金流APEIGHC
| Q4 25 | $-15.6M | $5.0M | ||
| Q3 25 | $17.5M | $161.8M | ||
| Q2 25 | $11.1M | $78.0M | ||
| Q1 25 | $33.1M | $30.5M | ||
| Q4 24 | $-1.8M | $91.1M | ||
| Q3 24 | $7.8M | $219.4M | ||
| Q2 24 | $7.3M | $33.7M | ||
| Q1 24 | $14.5M | $-20.2M |
自由现金流率APEIGHC
| Q4 25 | -9.9% | 0.4% | ||
| Q3 25 | 10.7% | 12.6% | ||
| Q2 25 | 6.8% | 6.4% | ||
| Q1 25 | 20.1% | 2.6% | ||
| Q4 24 | -1.1% | 7.3% | ||
| Q3 24 | 5.1% | 18.2% | ||
| Q2 24 | 4.7% | 2.8% | ||
| Q1 24 | 9.4% | -1.8% |
资本支出强度APEIGHC
| Q4 25 | 2.6% | 1.9% | ||
| Q3 25 | 2.6% | 1.3% | ||
| Q2 25 | 2.3% | 1.4% | ||
| Q1 25 | 2.4% | 1.3% | ||
| Q4 24 | 2.0% | 2.0% | ||
| Q3 24 | 4.1% | 1.5% | ||
| Q2 24 | 3.4% | 1.5% | ||
| Q1 24 | 4.0% | 1.8% |
现金转化率APEIGHC
| Q4 25 | -0.92× | 0.26× | ||
| Q3 25 | 3.90× | 1.45× | ||
| Q2 25 | 3.29× | 2.58× | ||
| Q1 25 | 4.16× | 1.93× | ||
| Q4 24 | 0.12× | 0.21× | ||
| Q3 24 | 6.22× | 3.28× | ||
| Q2 24 | 33.57× | — | ||
| Q1 24 | 40.20× | 0.01× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
APEI
| American Public Education Inc Segment | $71.0M | 45% |
| Rasmussen University Segment | $66.6M | 42% |
| Hondros College Of Nursing Segment | $20.7M | 13% |
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
